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Trump rips into ‘too late’ Jerome Powell after Fed holds rates steady
Published Thu, Jun 19 202511:04 AM EDT
President Donald Trump criticized Federal Reserve Chair Jerome Powell after the central bank kept rates steady for a fourth time.
Trump called Powell a “real dummy” in a late night Truth Social post.
Trump has signaled that he plans to soon announce Powell’s successor for when his term as chair ends next year.
President Donald Trump ripped into Federal Reserve Chair Jerome Powell on Thursday, calling him “destructive,” after the central bank kept interest rates steady on Wednesday.
Trump said “Too Late” Powell is costing the United States “hundreds of billions of dollars” by not cutting rates, leveling a familiar criticism against the Fed chair who has repeatedly ignored Trump’s pressure campaign to cut rates.
“We should be 2.5 Points lower, and save $BILLIONS on all of Biden’s Short Term Debt,” Trump wrote Thursday on Truth Social.
Trump also criticized Powell late Wednesday, calling him a “real dummy” in a near-midnight Truth Social post.
Powell, whose term ends in May of 2026, said Wednesday that, “for the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policies.”